The Passage (PASG) token is launching August 29 on StreamSwap!
We are excited to give our community the opportunity to acquire PASG in a fair, transparent way—here’s everything you need to know to prepare for the launch.
StreamSwap is a protocol for time-based token swaps.
We’ve chosen StreamSwap because we want the PASG token launch to be community-driven.
As an Osmosis-based protocol, StreamSwap is different from your typical instant token swaps and ICOs. By facilitating token launches with time-based transfers (AKA swaps) between two pools of tokens, it offers a fair, transparent opportunity to acquire the PASG token with organic price discovery driven by participants.
During the PASG launch, 20 million PASG tokens will be available, split into two pools ("Streams"):
This means you’ll need ATOM, OSMO, or both to participate. Note: ATOM must be IBC compatible!
A Stream is a time-bound setup for exchanging tokens. There are two stakeholders in every stream: the Streamer (in this case, Passage) and Subscribers (you, the participants).
The PASG launch will take place in 2 phases:
For more information on what this all means, read on! And check out this helpful article from the StreamSwap team.
The Bootstrapping Phase is the initial deposits phase.
During the Bootstrapping Phase, Subscribers can deposit or withdraw OSMO or ATOM into the streams at any time. No swaps are taking place at this point.
First, connect your wallet. Enter the amount of tokens you want to add, and click subscribe. You can withdraw or add tokens at any time during this phase.
The Passage bootstrapping phase will last 48 hours, beginning August 27 at 11:00am UTC.
Once you’ve deposited your tokens, you’re ready for the main event: the Streaming Phase. The stream will begin right after bootstrapping on August 29 at 11:00am UTC and will last 8 hours.
Swaps happen automatically during the Stream, continuing consistently and linearly until the end. At each second, the same amount of PASG will be swapped for a proportionate amount of deposited tokens.
Because of this, the price of PASG will fluctuate throughout the stream, and Subscribers who have deposited more tokens will acquire PASG faster.
At any point during either phase of the stream, you can remove unswapped tokens or deposit more.
The final PASG price is determined by the final average price of the stream.
This is found by dividing all tokens received (ATOM/OSMO) by the total PASG tokens streamed.
Your average purchase price might differ from the stream’s final average—you can monitor this right in StreamSwap’s interface.
Once the stream ends, you can claim your PASG tokens immediately by clicking Redeem and approving the transaction in your wallet.
After the StreamSwap launch, PASG holders will get access to exclusive avatar customizations and worldbuilding kits during our Pioneer Gear-Up Sale, and the token will be made available on decentralized and centralized exchanges—stay tuned for more info on all of this!
PASG is the native token of the Passage ecosystem. It’s designed for:
To prepare for the PASG token launch on StreamSwap, we're hosting a test run on August 22!
This is an opportunity to get familiar with StreamSwap's interface before the real launch, and help us iron out the process. As a thank you for participating, you'll have the chance to win 10 ATOM.
Test Stream Details
This will take place on Testnet, so you can claim test tokens from the StreamSwap faucet!
If you’re interested in participating in the PASG token launch, join on app.streamswap.io.